Posted by Leonard Steinberg on April 25th, 2014 I just learned that garbage produces more energy than SOLAR power: good to know our buried piles of decomposing New York garbage produce methane gas energy and is doing some good! Now if only we could make garbage collection a bit more attractive and 21st Century…..
NUMBER OF MORTGAGES DROPS DRAMATICALLY: A NEW ‘NORMAL"?
Posted by Leonard Steinberg on April 25th, 2014 The number of mortgages issued has dropped dramatically compared to a year ago fueling concerns that rising interest rates could have a negative impact on the housing market in general…..the bulk of the drop is attributed to the drop-off in re-financing. $235 billion in mortgage loans were… [Read More]
New Listing!! 60 Greene Street 3rd Floor
This exceptional full floor condominium loft masterpiece is perched above charming cobbled Greene Street in the heart of Soho, New York’s premiere downtown location surrounded by the best culinary, retail and cultural landmarks. Enter through the discreet lobby of this classic cast iron building: the elevator opens directly into the apartment revealing a breathtaking mix… [Read More]
NEW YORK AIR IS CHEAP!
Posted by Leonard Steinberg on April 24th, 2014 At last something to report on in New York that is actually cheap: AIR. Yes, the cost of air rights – also known as transferable development rights – are averaging $305/sf in 2013 compared with the $207/sf average in 2012…..up 47%, yet still a bargain compared to as-of-right FAR… [Read More]
HOT OFF THE PRESS: FIREPLACES, THE MIDDLE CLASS, TAXES
Posted by Leonard Steinberg on April 23rd, 2014 The news items of the day are not that great, or maybe they are? 1) Mayor De Blasio is planning to abolish wood-burning fireplaces in New York. While I love a crackling fire in a living room, quite frankly they do make some horrific pollution… [Read More]
New Listing! 158 Mercer Street, PH
The most exceptional Duplex Penthouse Downtown: Nothing compares to this extraordinary condominium penthouse that hovers over all of Soho with breathtaking, panoramic, protected views, located in the full service New Museum Building on Soho’s most desirable cobbled block. The elevator door opens into a gracious vestibule that leads to a grandly scaled Great Room with… [Read More]
HOME OF THE FREE? ASK AIRBNB…..
Posted by Leonard Steinberg on April 21st, 2014 AIRBNB is under attack by New York Law that prevents the rental of any apartment for less than 30 days. Nearly two-thirds of the New York apartments recently listed on Airbnb were being offered in violation of the law: 64% of its 19,500-plus offerings covered an entire apartment,… [Read More]
THE TALLEST TOWER IN THE WORLD
Posted by Leonard Steinberg on April 20th, 2014 And you thought the Freedom Tower or those buildings on the 57th Street corridor of New York were tall? Hah! Work to build the world’s first 1km-high building…..yes, 3,280ft tall, or almost TRIPLE the height of 432 Park Avenue….. the Kingdom Tower in Saudi Arabia, is set… [Read More]
FUZZY MATHEMATICS AND REAL ESTATE
Posted by Leonard Steinberg on April 17th, 2014 In this morning’s POST an article addresses the concerns of activist Reverend Dennis Dillon that Mayor De Blasio’s administration is not as diverse as the City and doesn’t reflect its composition: African-Americans account for about 23% of New York City’s population, and make up 26% of the… [Read More]
IS THE CO-OP BACK?
Posted by Leonard Steinberg on April 17th, 2014 With the recent $70 million sale of the 960 Fifth Avenue Bronfman penthouse and the $ 42million Central Park West Jon Stryker sale (by Robby Browne)that just closed, we may conclude that rumors of the CO-OP’s demise have been grossly exaggerated! The Central Park West sale is… [Read More]